Money and Divorce

|Money and Divorce
Money and Divorce2019-01-18T22:03:04+00:00
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Inheritance and Divorce

Do I have to share my inheritance?

Did you know that inheritance property is a separate property of the recepient? Therefore they should keep it separate from any joint accounts. Co-mingled inherit property or money becomes marital property and is presumed a gift.

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Shared Liability

My spouse has a credit card. Am I responsible for the balance?

Assets and liabilities are equal to both parties. His or her credit card does not matter. Both are on the hook. Liabilities are equally split even if the party did not incur the debt. Separation does begin until a petition is filed.